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  1. Hi everyone, I'm new to the Hub and just starting out on my property quest. I currently own (Mortgage) my personnel property but I'm looking to buy my first buy to let property. I can't make up my mind whether it would best to set up a ltd company and go down that route or buy in joint name with my wife. I'm close to the upper tax bracket but she is not so splitting the profit between us would make sense and keep me below the 40% tax bracket, but obviously we could only do this for a couple of properties. Basically I'm interested in the pro's and cons in setting up a ltd company to start buying properties through, any advise is welcome and much appreciated. Cheers Adam
  2. Morning Guys and Girls, Reading over a lot of the previous threads in reference to the difficulty of obtaining a buy to let mortgage if you do not own your own residence and seeking a little advice. I currently have a property which was converted into a buy to let for the last 3 years or so after moving away from the area. I am now renting with my partner, but plan to sell the property to release the equity to hopefully purchase multiple properties on a buy-let basis. So my question is, would my previous Landlord experience be taken into account when applying for a buy-to-let even if at that time I would not have an existing mortgage or am I likely to find it difficult? Thanks in advance Michael
  3. Hi hubbers A broker is telling me that if I buy a property via a sourcer the lender will charge higher rates and a higher arrangement fee. The additional costs seem to make sourced property un-investible. Anyone have any experience of this? Mortgage in a ltd company. Thanks
  4. Hi All Newbie; so apologies if this question has been asked before... I see lots of websites that compare residential mortgage rates (comparethemarket, moneysupermarket, moneysavingexpert) but is there an equivalent for Professional Landlords with 4 or more properties? My own research suggests that a mortgage broker is the way to go which leads to me to a further question of "Is there a league table of mortgage brokers that deal specifically with Professional Landlords"? I came across this but wondered whether there's more: https://www.mortgagesforbusiness.co.uk/products/limited-company-rates/ Regards Paul
  5. Hi everyone, I assume/hope that I'm not the only person who's head spins when comparing mortgage deals? I've been looking around for (preferably) a Google Sheet that can let you easily input the details from the KFI document to compare the best deal both for now and over the duration of the mortgage. I simply cannot find one! I can find brand-specific calculators but they're not in a simple/clean format, that I can input my own data fields into. They also only compare deals that they are offering, and not ones I'm being offered elsewhere. Before I spent too long making my own, does anyone have anything similar like this that I could copy, please? Muchos thanks in advance! Nick
  6. Hi everyone Huge fan of the forum and the podcasts - been a forum stalker for a while now but only now getting round to writing my first post. Would massively appreciate some advice/guidance on my current situation. Myself and a good friend jointly own a 4 bed flat in a good area of Edinburgh (Stockbridge) that we bought it in 2013 to live in. We have since both moved away from Edinburgh and it is currently on a repayment BTL mortgage and, as such, is not making us any money each month. Mortgage = £1834 and we are getting £2050 per month in rent (we probably could get slightly more in rent but we have fantastic tenants that have added new appliances, cupboards etc and want to keep the flat for many years). After management fees of 9% and insurance we are paying about £45 per month each (not ideal, I know!). We purchased the flat for £490,000 and it is now worth around £600,000 at a conservative estimate. There is about £347,000 left on the the mortgage. I'm keen to change to an interest only mortgage in order the turn it from a negative to positive cashflow asset, whilst utilising some of the equity we have in the flat to purchase investment properties. My only hesitation is that we are both additional rate tax payers, and by taking rental profits we will be subject to a lot of tax. The fact we both make good money and can save up deposits relatively quickly meant we were too bothered about paying a little extra each month to supplement the rental income but I feel the equity in the flat would be better used in other properties. Our original plan was leaving it till the mortgage is payed off in 2038, then we would have an asset producing great income each month and one that will have greatly increased in value. I am awaiting response from a couple of mortgage brokers about what products would be available and to what cost. Does anyone have any thoughts on what they would do in our situation? My gut tells me it would be a better performing asset on an interest only mortgage but I like the feeling of security that comes with a repayment mortgage. My goal is to have a portfolio of BTL properties with a long term focussed strategy. Many thanks for taking the time to read and any feedback would be greatly appreciated! Cheers. Matt
  7. Hi, I am thinking about starting a limited company SPV for my next and subsequent purchases, so that their tax treatment is more favourable. I am thinking about affordability criteria for mortgage lenders. Clearly there will be affordability criteria and rent : mortgage standards of a similar nature to the personal mortgages market and I get that interest rate and set up costs are likely to be higher. However in order to get the company started I will clearly have to fund it in order for there to be money there for deposits, legal fees etc. Here are some questions that I would appreciate advice on: 1) Would a mortgage lender expect the company to have some cash reserves to help through voids / unexpected expenses etc, and if so are there set proportions for this? If so this would affect the initial amount needed to be put into the company. Alternatively do they presume that the individual setting up the company will fund those issues until the companies profit has built up to do this for it? 2) When I inject cash into the business to start it up, is this considered a debt that the company owns the individual who creates it? And if so, when considering affordability of the loan / LTV, would the lender take that into account. I am hoping that it can just be assumed that when starting the business the funds are in there and are the property of the business and therefore this does not make the mortgage application look unaffordable. Grateful for your thoughts on these. Steve
  8. Hi, I'm looking to purchase a property in Scotland (glasgow), however the energy rating on the building is 25/100 (F) and environmental impact 17/100 (G). I believe i read that new rules are in place or coming into place with financing these types of properties. Does anyone know the "new" rules, if any, on purchasing a property with terrible energy ratings? Any information would be great. Regards, Eamon
  9. Hi all,I am currently planning to go into business with my step-brother, building a buy to let portfolio. We are trying to work the best way to set ourselves up. (Buying properties as individuals, jointly or in a Ltd company. )He is employed with an income above £25,000, as am I currently. However, I will soon be leaving my current job to set up as self employed. I know that directors’ incomes are assessed when a Ltd company applies for a mortgage so does the fact that one director may have insufficient income make getting mortgages impossible?We want to make sure we start in the correct way. Any advice would be much appreciated. Alex.
  10. Afternoon all, I am new to this site and wanted to introduce myself. I am a self employed "whole of market" mortgage broker. Specialise in residential and BTL mortgages. I have nearly 10 years experience in the finance sector and nearly 4 years experience in the Mortgage Industry.
  11. Hello Everyone, I am currently looking to purchase a few BTL properties and aim to add more of them up over period of time (long term) As I am putting everything together in place I would like to find some professionals that can help me to get the best out of my money. I am currently looking for a good BTL broker that can recommend the best deals in regard to mortgages as a ltd company. I am based in London but can deal with someone based somewhere else in the UK if they are highly recommend. I also need a company that can advise on getting my properties to work as best they can in regard to tax. Thanks for the help in advance!
  12. Hi guys I am looking at purchasing a BTL that I am planning to use solely as an AirBnB. Does anyone have any experience on getting a mortgage for this? Would the best option be getting a standard BTL mortgage with permission for short term lets? I am speaking to my mortgage broker early next week but was keen to see if anyone on here has had practical experience of this! Many thanks in advance for any thoughts. Matt
  13. Hi All, Thought I would share the news today that some of you may be aware of. Interest rates have increased for the first time in 10 years to a whopping, 0.5%, (sarcasm) increased by 0.25% My thought is what type of mortgage do you have? Most people's have one of two products. They either have a fixed-rate, x amount per month, or they have a variable rate, where the interest rate can move at the discretion of their lender. If you haven't changed your mortgage for more than five years, you are probably on a variable rate. This means your rate is susceptible to the increase. Whilst the increase isn't substantial, either way it means less money in your pocket than before. Always remember to check your current mortgage rates and switch when a better deal comes along, at the recommendation from your mortgage broker. Neil
  14. Hi, I am looking to remortgage my current residential property and release 100K. This would allow me to buy 3 100K BTLs (25K deposit and 5k moving and SDLT per property). I have spoken to 1 mortgage today adviser last week and in principal I can remortgage, they will place 100K in my bank account, I pay the increased mortgage every week and my BTL journey can start. I go hunting for property. I spoke to a large Mortgage broker firm today and they are of the opinion that I should put offers in and get offers accepted on 3 properties I wish to purchase, they would then start the process of remortgaging my residential property. They actually advised that the BTL mortgage companies would require that. They claim a cheaper rate for all the mortgages would be possible this way. They did concede (once I mentioned it) that option 1 above is also possible. I understand the longer I have the 100k in my current account, the more I am losing of course. Is there an optimal course of action? Do I want 4 mortgage applications on the go at once? Does it matter?
  15. Hello all, I'm interested to know what particular challenges established, new and prospective property investors are facing and any solutions you may think would help. Thanks, Jo
  16. Hi all, First post, so go easy on me. I'm UK expat living in Munich with my German wife and seriously interested in starting the property investment journey back in the UK. I'm in the early stages educating myself through the excellent TPH & TPP resources, making connections, getting advice and already meeting early challenges. One such challenge is Expat BTL mortgages. I've had some helpful conversations so far with brokers and mortgage companies direct, but the initial issue seems that most will only offer Expat BTL on a min loan of between £100-150k. However, I think the numbers will only really work on good value properties in Northern cities, where great opportunities can be less than £100k, plus as our first investment, we don't want to over-stretch ourselves. On this the cogs started whirring and I thought: is it possible to set up a Ltd company with a family member \ friend based in the UK listed as a director\share holder and try to secure a Ltd company BTL mortgage without the Expat rates and a lower or no min loan value? Any ideas if this is even possible or any potential problems or implications? Cheers Tom PS - I'm flying over to the UK for the August meetups. Any suggestions on which I should attend (I fly into Manchester)? I know they'll all be great and helpful, but should I go where I'm interested in starting or any city better for a Newbie?
  17. Louise and her property tax specialists have written an article based on their discussions with clients about how they see property investing in the next 12 months. Some interesting points that clients have highlighted: 1 – Mortgage interest will only increase and therefore the Section 24 will have a compounding affect on many landlords 2 – The focus of some clients has been to reduce mortgage interest rates or indeed paying off some of their mortgages in light of the budget changes 3 - Council of Mortgage Lenders (CML) have highlighted a drop of nearly 50% in the number of properties being bought by landlords in the UK Read more here: http://www.optimiseaccountants.co.uk/buy-to-let-property-market/#.WYgc3tPyuRv Hope this is useful
  18. Louise and her property tax specialists have written an article based on their discussions with clients about how they see property investing in the next 12 months. Some interesting points that clients have highlighted: 1 – Mortgage interest will only increase and therefore the Section 24 will have a compounding affect on many landlords 2 – The focus of some clients has been to reduce mortgage interest rates or indeed paying off some of their mortgages in light of the budget changes 3 - Council of Mortgage Lenders (CML) have highlighted a drop of nearly 50% in the number of properties being bought by landlords in the UK Read more here: http://www.optimiseaccountants.co.uk/buy-to-let-property-market/#.WYgc3tPyuRv Hope this is useful
  19. Hi there, I'm trying to find an agricultural mortgage broker, does anyone have any recommendations? Thanks in advance Paddy
  20. Hi Guys A bit about me I am a 2016 science graduate who currently works in London and live in Berkshire, I am interested in the property industry and regularly watch the property podcast as well as property geek. I have also been reading property books however I am currently in the long tedious process of saving. I am interested in working in the property industry and would like to get some experience, I have looked at jobs that I would be eligible for but do not want to sacrifice my current comfortable salary and very flexible job. I can work from home and have flexible working hours, therefore I am in a position to be able to work for free in exchange of experience. I have admin, project management and sales experience. I am also a very fast learner. If anyone is willing to offer me some experience please get in touch. I am willing to commit for a minimum of 3 months.
  21. Hello everyone, Me and my sister have inherited a 4 bedroom detacted house which is currently worth £400k. Theres is no mortgage left on it. We have been adviced by a financial advisor to move the property into a Limited Company and then mortgage agianst that for deposits on Buy-to-Lets which we are very keen to do. Finally, i want purchase my first home so by doing this, i should pay less in stamp duty. Since talking to my accountant and then him discussing with a collegue that is specilist in this area he has come back and said he isnt coverly convinced that this is best way.. If anyone has has experiences or advice on this subject of moving assests or limited companies, it would be greatly appreciated. Regards Ben
  22. Hi there, i am wondering if I am on a wild goose chase here. Is this even possible, is there anyone that will look into my specific circumstances and lend to me, or will it always be a case of computer says no? I own my Own flat outright worth 80K and i should be on Track to earn 80K this year. I was employed last year and earnt 30K, I have about 30/40Kcash, yet can't seem to borrow a Penny. Cheers Laurence
  23. A lender who really understands the professional investor market has issued a report today on the BTL sector. it's not all doom and gloom and BTL is still a very positive market for professional investors looking at the long-term. Shawbrook also contributed to the Tenant Tax fighting fund and as a broker who does a lot of work with them, I find their attitude a breath of fresh air compared to some other lenders. Shawbrook BTL Report.pdf
  24. Hi, I made my first BTL purchase last year on a 1bed flat that is part of 4 flats in a block. The block is a leasehold with 125yrs remaining. One of the other investors in the block has recently contacted me saying we may all have an issue with one of the clauses stated in the lease. Being new, I'm not sure if this is a problem and would appreciate some experienced advice. The clause appears to be a "doubling of the ground rent every 10years" (the actual wording is incredibly cryptic, but this is my understanding). According to the other investor, this may become a problem for lenders who will not wish to lend on the property in future with such a clause. Has anyone heard of this type of arrangement, and if so, is it something that may cause an issue for a future re-mortgage? Thanks! Lee
  25. Hi All, Could someone please recommend me a good Mortgage Advisor based down South (I'm in Brighton). I have a few that I have used but would be interested in having a few more options. Thank you in advance! Cheers, James
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